BGHSX vs. SPY

Last updated Apr 2, 2026

Compare and contrast key facts about BrandywineGLOBAL - High Yield Fund (BGHSX) and State Street SPDR S&P 500 ETF (SPY).

BGHSX is managed by Franklin Templeton. It was launched on Dec 3, 2014. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.

Performance

BGHSX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrandywineGLOBAL - High Yield Fund (BGHSX) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

BGHSX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BGHSX BrandywineGLOBAL - High Yield Fund	-1.56%	5.55%	9.90%	13.21%	-10.23%	1.12%
SPY State Street SPDR S&P 500 ETF	-3.65%	17.72%	24.89%	26.18%	-18.18%	8.92%

Returns By Period

In the year-to-date period, BGHSX achieves a -1.56% return, which is significantly higher than SPY's -3.65% return.

BGHSX

• 1D: 0.41%
• 1M: -1.20%
• YTD: -1.56%
• 6M: -0.96%
• 1Y: 3.40%
• 3Y*: 7.83%
• 5Y*: —
• 10Y*: —

SPY

• 1D: 0.75%
• 1M: -4.28%
• YTD: -3.65%
• 6M: -1.42%
• 1Y: 18.14%
• 3Y*: 18.48%
• 5Y*: 11.86%
• 10Y*: 14.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BGHSX vs. SPY - Expense Ratio Comparison

BGHSX has a 0.54% expense ratio, which is higher than SPY's 0.09% expense ratio.

BGHSX

BrandywineGLOBAL - High Yield Fund

SPY

State Street SPDR S&P 500 ETF

Return for Risk

BGHSX vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BGHSX

BGHSX Risk / Return Rank: 40
BGHSX Sharpe Ratio Rank: 41
BGHSX Sortino Ratio Rank: 38
BGHSX Omega Ratio Rank: 44
BGHSX Calmar Ratio Rank: 39
BGHSX Martin Ratio Rank: 37

SPY

SPY Risk / Return Rank: 59
SPY Sharpe Ratio Rank: 51
SPY Sortino Ratio Rank: 56
SPY Omega Ratio Rank: 60
SPY Calmar Ratio Rank: 58
SPY Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BGHSX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL - High Yield Fund (BGHSX) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BGHSX	SPY	Difference
Sharpe ratio Return per unit of total volatility	0.91	0.96	-0.05
Sortino ratio Return per unit of downside risk	1.29	1.49	-0.20
Omega ratio Gain probability vs. loss probability	1.20	1.23	-0.03
Calmar ratio Return relative to maximum drawdown	1.11	1.53	-0.42
Martin ratio Return relative to average drawdown	4.19	7.27	-3.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGHSX vs. SPY - Sharpe Ratio Comparison

The current BGHSX Sharpe Ratio is 0.91, which is comparable to the SPY Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of BGHSX and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BGHSX	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	0.96	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.56	+0.22

Correlation

The correlation between BGHSX and SPY is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BGHSX vs. SPY - Dividend Comparison

BGHSX's dividend yield for the trailing twelve months is around 6.48%, more than SPY's 1.13% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGHSX BrandywineGLOBAL - High Yield Fund	6.48%	7.08%	7.49%	5.23%	5.32%	4.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.13%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Drawdowns

BGHSX vs. SPY - Drawdown Comparison

The maximum BGHSX drawdown since its inception was -14.30%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BGHSX and SPY.

Drawdown Indicators

	BGHSX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-14.30%	-55.19%	+40.89%
Max Drawdown (1Y) Largest decline over 1 year	-3.43%	-12.05%	+8.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-1.60%	-5.53%	+3.93%
Average Drawdown Average peak-to-trough decline	-3.33%	-9.09%	+5.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	2.54%	-1.63%

Volatility

BGHSX vs. SPY - Volatility Comparison

The current volatility for BrandywineGLOBAL - High Yield Fund (BGHSX) is 1.17%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.35%. This indicates that BGHSX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGHSX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	5.35%	-4.18%
Volatility (6M) Calculated over the trailing 6-month period	2.16%	9.50%	-7.34%
Volatility (1Y) Calculated over the trailing 1-year period	3.89%	19.06%	-15.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.50%	17.06%	-12.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.50%	17.92%	-13.42%